Zhi Tong Cai Jing·2026-01-09 07:00Group 1 - The core viewpoint of the article is that the Macau gaming industry experienced a 15% increase in gaming revenue, leading to an expected EBITDA growth of 16% to $2.2 billion in the fourth quarter [1] - The report anticipates that the market share of Galaxy Entertainment (00027), Sands China (01928), and MGM China (02282) will increase compared to the previous year [1] - Investors are expected to focus on EBITDA profit margins and dividends ahead of the earnings releases [1] Group 2 - The company has revised its earnings forecasts by incorporating actual gaming revenue data for the fourth quarter of 2025 and adjusting market share and profit margin predictions [1] - The target price for SJM Holdings (01128) has been lowered from HKD 8.4 to HKD 8.2, while the target price for Galaxy Entertainment has been raised from HKD 49.1 to HKD 49.5, maintaining an outperform rating for both companies [1] - Galaxy Entertainment and MGM China remain the preferred stocks in the industry [1]